Klarna has launched a new web page that shares data on its buy now, pay later (BNPL) offerings, including their repayment rates, late fee rates and consumer age demographics. This new Wikipink page aims to encourage transparency in the credit industry and drive dialogue on personal finance at...
The Consumer Financial Protection Bureau detailed in its 2023 Consumer Response Annual Report that consumers have been the targets of fraudulent account openings, and installment loans were the most cited type of personal lending in complaints. The report, released Friday (March 29), noted that complaints...
Florida-based Liberty Savings Bank has partnered with artificial intelligence (AI) lending marketplace Upstart to provide personal loans. The bank, which serves Florida’s Sarasota-Manatee County and has over $1.2 billion in assets, will provide these personal loans to both new and existing customers, the companies said in...
SoFi Technologies said in its latest earnings report that it had seen significant growth in cross-selling activity, and noted that the vast majority of its SoFi Money deposits came from direct deposit members. The company said Monday (Jan. 29) net new member adds of nearly...
December 05, 2023
Artificial intelligence (AI) and machine learning (ML) are no longer emerging technologies. The innovations have officially arrived, and they are already having an impact around the globe – particularly within payments and finance. “There’s a lot of data science magic that goes behind the simple act of giving credit to our customers in our markets,” Kelly […]
October 27, 2023
In the parlance of these times, and as earnings season commentary has pointed out, time and again: Consumer credit is normalizing. The question remains, however, as to what comes next....
August 29, 2023
Nearly 200 million in the United States hold at least one bank-issued credit card — a financial tool which has come in handy as inflation and higher costs continue to...
August 25, 2023
In today’s U.S. financial landscape, having a good three-digit credit score can be a critical factor in determining not only whether you are approved or denied for a mortgage, auto...
April 05, 2024
Consumers’ total outstanding credit increased by $14.1 billion in February. Revolving credit accounted for $11.3 billion of the increase, while non-revolving credit made up the other $2.9 billion, the Federal Reserve said Friday (April 5) in its monthly report on outstanding consumer credit. “In February, consumer credit increased at a seasonally adjusted annual rate of 3.4 percent,” […]
April 03, 2024
Klarna has launched a new web page that shares data on its buy now, pay later (BNPL) offerings, including their repayment rates, late fee rates and consumer age demographics. This new Wikipink page...
March 21, 2024
Florida-based Liberty Savings Bank has partnered with artificial intelligence (AI) lending marketplace Upstart to provide personal loans. The bank, which serves Florida’s Sarasota-Manatee County and has over $1.2 billion in assets,...
January 07, 2024
Americans ended 2023 dealing with increasing financial strain, relying more on personal loans. That’s according to a recent report by VantageScore, which warns that increased dependence on these loans and...
